MarkZ

[Why hasn’t Iraq released their new rate?] They are waiting for permission to do that. They are positioned…If they gave the rate right now before the banking system is prepared for it…it will be mayhem. A number of large banks have announced branch closings…maybe this is a good thing…maybe these closed branches will be made into redemption centers which would help speed things up?  They have to have the mechanisms in place before they allow Iraq to float or it would be mayhem all over the word as folks try to rush to the banks…not good while they are trying to “socially distance us” due to this Corona virus.

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